Originating & Underwriting

Manufactured Home Financing

Open the door to homeownership with single-width, multi-width, and MH Advantage homes

Manufactured homes (MH) deliver high-quality, affordable living. With MH residents seeing median monthly housing costs about 40% less than site-built, MH can help make homeownership achievable. Fannie Mae offers conventional financing for a variety of MH—from budget-friendly options to Manufactured Home Advantage™ (MH Advantage®) homes with site-built features—and help more homebuyers find a home that fits their needs. 

MH Advantage: Expanding eligibility and easing origination

We’ve expanded access to MH Advantage financing and helped to address operational hurdles:

  • We updated requirements to allow for single-width manufactured homes and homes with CHOICEHome® labels to qualify for MH Advantage financing.
  • We now allow appraisers to use CHOICEHome®-eligible homes as comparable sales for MH Advantage-eligible homes.

 Read the announcement 
 

 

Why Choose Conventional MH Financing?

In case you missed it

We’re listening to feedback and turning it into results, breaking down barriers that make financing a manufactured home more complicated.

Planned unit developments (PUDs) with single-width units no longer need Project Eligibility Review Service (PERS) approval, making it even easier to finance single-width MH.

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Offer loans for MH in leasehold estates in approved HOA or Condo projects.

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Temporary interest rate buydowns, which allow sellers or other parties to temporarily reduce a borrower's interest rates, are now available for manufactured homes.

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Community Land Trusts (CLTs) allow homebuyers to buy a home for less than the surrounding market, and MH makes this option more affordable.

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We’re only requiring lenders to submit an Affidavit of Affixture when a loan is delivered with a personal property title, or if the state law requires a new Affidavit.

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A Variety of Solutions

We've got a range of MH loan options to fit different needs. Take a look at the overview below, or dive into our full product matrix for more details.

See the full product matrix

MH Mortgages

Standard MH

For traditional single- and multi-width manufactured homes. Fact Sheet

MH Advantage

For homes built to appeal to site-built borrowers. Fact Sheet

Minimum down payment5%3%

Must be titled as real property

See Titling Resources

YesYes
DesignTraditional single- and multi- width homes.Single- and multi- width homes with features similar to site-built homes.

Appraisals 

See Appraisal Resources

Must include a minimum of two manufactured home comps. Additional requirements for single-width MH.Must use MH Advantage comps if available. If fewer than three MH Advantage comps are AVAILABLE, appraisers MUST use a minimum of two site-built comps.
LLPA0.50%*N/A
Temporary interest rate buydownsPermitted on loans for Standard MH and MH Advantage (excluding cash-out refinances and investor properties). See buydown policies

MI Coverage

See MI Coverage Requirements

Varies from site-built homes.Consistent with site-built homes.
Eligible home manufacturersAll manufacturersSee a list of MH Advantage Participating Manufacturers

As of February 1, 2023, Fannie Mae will require that, in the absence of three MH Advantage homes, appraisers must include a minimum of two site-built homes as comparable sales in their appraisals for MH Advantage. View the Selling Guide Announcement.

*Loan Level Price Adjustments (LLPAs) are waived for homebuyers that meet certain income requirements and Duty to Serve loans. See the LLPA Matrix and Duty to Serve eligibility requirements for details.

Partnership Opportunities

Conventional MH Financing is helping lenders grow their business

American Financial Resources made homeownership accessible for more borrowers with single-width MH financing.

United Wholesale Mortgage saw results on day 1 with Conventional MH financing.

Land Home Financial Services has partnered with developers to bring MH Advantage® eligible-homes to subdivisions.

Helpful Resources